Welcome to our dedicated page for United Rental news (Ticker: URI), a resource for investors and traders seeking the latest updates and insights on United Rental stock.
United Rentals, Inc. reports news on its equipment rental business serving construction, industrial, utility, municipal and homeowner customers. Company updates commonly cover rental revenue, fleet productivity, adjusted EBITDA, guidance, capital allocation and quarterly dividends, along with activity across general rentals and specialty rental offerings.
Recurring developments also include digital and jobsite tools such as Worksite Performance Solutions, United Academy training programs, the Equipment Agent AI assistant and telematics integrations. Governance updates, board composition and investor conference participation appear alongside operating results and customer-focused safety initiatives.
United Rentals (NYSE: URI) reported Q2 2021 results with total revenue of $2.287 billion and rental revenue of $1.951 billion, marking an 18.8% year-over-year increase. Net income rose 38.2% to $293 million, with an adjusted EBITDA of $999 million. The company raised its full-year 2021 guidance, forecasting total revenue between $9.45 billion and $9.75 billion, largely due to recent acquisitions. Fleet productivity improved by 17.8% year-over-year, indicating strong operational efficiency.
United Rentals, Inc. (NYSE: URI) will conduct its second quarter 2021 conference call on July 29, 2021, at 11:00 a.m. ET, featuring CEO Matt Flannery and CFO Jessica Graziano. The earnings press release will be available on unitedrentals.com after market close on July 28, 2021. Investors can also access an audio webcast of the call, which will be archived on the website. As the largest equipment rental company globally, United Rentals operates 1,156 locations across North America and Europe, offering around 4,000 types of equipment for rent.
United Rentals, Inc. (NYSE: URI) has completed its acquisition of General Finance Corporation (NASDAQ: GFN). The deal, valued at $19.00 per share, enhances United Rentals' growth capacity by adding mobile storage and modular office solutions, along with over 900 employees. CEO Matthew Flannery expressed optimism about the strategic merits of the acquisition, aligning with increasing market demand. Financial results reflecting the merger will be reported in July. Following the merger, General Finance's common stock will be delisted from NASDAQ.
United Rentals, through its subsidiary UR Merger Sub VI Corporation, has completed its tender offer to acquire General Finance Corporation for $19.00 per share. The offer, which expired on May 21, 2021, saw 27,625,450 shares tendered, amounting to approximately 91.4% of General Finance's outstanding shares. The acquisition is scheduled for completion on May 25, making General Finance a wholly owned subsidiary. Post-merger, General Finance's common stock and preferred shares will be cancelled and delisted from NASDAQ.
United Rentals reported Q1 2021 revenues of $2.057 billion, a 6.5% decline in rental revenue year-over-year, but raised its full-year guidance to $9.05 billion to $9.45 billion. Net income rose 17.3% to $203 million, with a net income margin of 9.9% and diluted EPS of $2.80. Adjusted EBITDA decreased 4.6% to $873 million. The company experienced a significant 28% increase in used equipment sales, generating $267 million in gross margin. CEO Matthew Flannery expressed confidence in continued recovery.
United Rentals announced a cash tender offer to acquire all outstanding shares of General Finance at $19.00 per share. This offer, made through its subsidiary UR Merger Sub VI Corporation, is part of a merger agreement finalized on April 15, 2021. The tender offer will expire on May 21, 2021, unless extended. The transaction is not subject to any financing conditions but is contingent upon certain regulatory approvals and the tendering of sufficient shares. The General Finance board recommends stockholders accept the offer.
United Rentals will acquire General Finance for $19 per share, totaling approximately $996 million, including $400 million net debt. The acquisition aims to enhance United Rentals' market presence and diversify service offerings in mobile storage and modular office space. General Finance operates 106 branches across North America and Australia/New Zealand, generating $94 million adjusted EBITDA on $346 million revenue. The deal, expected to close in Q2 2021, is projected to yield $65 million in revenue synergies and $17 million in adjusted EBITDA benefits by the second year post-acquisition.
United Rentals, Inc. (NYSE: URI) has acquired Franklin Equipment, LLC, enhancing its equipment rental services in the Midwest and Southeast U.S. Founded in 2008, Franklin Equipment operates 20 locations, serving general contractors across states including Ohio and Georgia. This acquisition adds over 300 employees to United Rentals, aligning with its commitment to superior customer service. The deal expands United Rentals' market presence and builds operational synergies. Financial specifics of the transaction were not disclosed.
United Rentals (NYSE: URI) is set to hold its first quarter 2021 conference call on April 29, 2021, at 11:00 a.m. ET, featuring CEO Matt Flannery and CFO Jessica Graziano. The corresponding press release will be available after market close on April 28, 2021, on unitedrentals.com. United Rentals, the largest equipment rental company globally, operates over 1,154 rental locations across North America and Europe, employing approximately 18,250 individuals. The company offers around 4,000 classes of equipment for rent, valued at $13.78 billion.
United Rentals (NYSE: URI) will participate in the Evercore ISI 13th Annual Industrial Conference on March 2, 2021. The presentation, led by CEO Matt Flannery and CFO Jessica Graziano, is set for 4:05 p.m. ET and will be accessible via a webcast link. Additionally, an archived version of the presentation will be available on the company's website for thirty days. United Rentals operates the largest equipment rental network globally, with over 1,154 locations and around 18,250 employees, offering roughly 4,000 classes of rental equipment valued at $13.78 billion.